A sign of things to come, Bellevue, WA-based Transforming Age is about to open a second headquarters in Omaha, NE, in December, the company announced Thursday. President and CEO Torsten Hirche told the McKnight’s Business Daily that this is “most definitely” a sign of further expansion ahead.
Founded more than 60 years ago, Presbyterian Retirement Communities Northwest rebranded in 2016 as Transforming Age.
“HQ2 in Omaha further expands our ability to enhance the lives of older adults in the Midwest and beyond,” Hirche said, adding that the Omaha base “will enhance Transforming Age’s ability to support its growing Midwest presence as well as its nationally expanding network of affiliates and partners, which now spans 22 states.”
Additionally, Transforming Age has added 10 third-party managed communities to its growing portfolio, which now includes almost 70 properties. The newly added third-party managed communities, including one under construction, are located in Illinois, Colorado, Iowa, Kansas, Nebraska and South Dakota. The mix of entrance fee and market rate rental communities represents more than 1,000 units.
“Third-party management has been on our strategic roadmap for some time. We have managed individual properties in the past but are now executing on a much larger scale,” Hirche said. “We are looking forward to collaborating with more owner-partners with our solid platform and top-quality team.”
Frankie Pane, Julie Bennett, Camille Burke and Scott Braasch, all currently employed by Essex Corp., will lead the HQ2 team. Together, this group has completed more than $1 billion in real estate developments and has served as a full-service provider to the 55+ housing industry.
In addition to leading the HQ2 team, Frankie Pane will join Transforming Age affiliate GSI Research & Consulting. Pane will serve as co-president of GSI alongside David Knight to further accelerate Transforming Age’s in-house and third-party real estate development projects, which currently include 11 projects with 2 million square feet under development.
“We are very excited about such a world-class team joining us and helping us further expand our non-profit mission and impact,” Hirche said in a statement. “This significant milestone adds top talent, resources, and operations to our network. Transforming Age is grateful for Frankie’s leadership and his entire team’s dedication to expanding our mission.”
